Greek ship-owners to benefit from the pipeline Burgas-Alexandroupoli

The recent visit by the Russian President Putin in Athens and the subsequent agreement on a pipeline that will transfer Russian oil from Burgas (Bulgaria) to Alexandroupoli (Greece) will have significant positive returns for Greek ship owners. Already Greece is the major nautical power on earth since 17% of worlds fleet is owned by Greeks. There around 850 Greek merchant marine corporations with assets in excess of 300 billion Euro. Moreover 70% of Chinese and 50% OF Japanese is already transported by Greek oil tankers whilst the figure is 25% for USA.

Judging from the above the 35 million tones flowed by the pipeline (55 million in a decade from now) will exit from the Greek port mostly loaded in Greek owned vessels.

Companies to watch:

1) Top Tankers
2) Tsakos Energy Navigation
3) Ceres Hellenic
4) Eolos Shipmanagement
5) Eletson
6) Danaos
7) Thena maris
All the above oil tanker corporations have mostly newly built vessels and will benefit the most by the new geoeconomic situation unraveled due to the pipeline.  It has to be noted that most of the shipping magnates behind the companies have excellent relations with both Greek and Bulgarian officials as well as with leading figures in the Russian society. Hence it is probable that they will also expand their activities in the Black Sea by acquiring the oil transport line from the Novorossiysk (Russia) to Burgas.
As far as the Alexandroupoli  port area is concerned; it will surely experience a booming decade in relation as well with the new “Egnatia motorway” that will link Adriatic sea with Eastern Thrace in Turkey and will have corridors leading transportation in the Balkans through Bulgaria and FYROM. Therefore the prospects for expansion of commercial activities in the area is quite strong.

Explore posts in the same categories: Greece

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: